Well .... I'm not betting the farm - a sure way to exit the business. However I have taken a larger than usual short position in a couple of issues.
I do believe that it will be quite some time before the Nasdaq sees these marks again. Short 2600 QQQs at $38.15
What's your profit target on the short? Looking at the charts Short-term pullbacks on the QQQ have been worth 2-3 pts. I think there is even more money on the sideline waiting to pile in on any pullbacks. Is your target 36-35? Best of Luck
Because it doesn't really matter what is going to happen in this one particular trade (the outcome of every single trade is determined by luck), what is your longer term strategy? I assume that if the market continues higher, you will enter again on the short side may be a couple of times, until finally the market pulls back and you make enough profit to cover (hopefully) your losses... If this is really your strategy, what makes you so bearish, I mean why do you fight the trend, if you think that the market will go down, you can simply "make" money if you just stand aside and preserve your capital instead of shorting and going against that crazy buyers? I look at the chart and I see that the trend isn't over (in your timeframe), why would you short a trend before it is broken?!? Trading is about reaction, not prediction, right ? Good luck with your trade though
for you shorts I have no position but might suggest covering a portion of yours if you have the ability to trade NQ's sunday night , just in case there is an overnight rally premarket
Quite a week for the Nasdaq. It seems to have caught up from that laggard spell at year end. The Dow was up around 600 in December I think. This Week's Markets: DJIA 10458.89 47.04 Nasdaq 2086.92 66.14 S&P 500 1121.86 13.38 Rus 2000 575.20 14.35 DJTA 2988.94 -20.78